Apple Valley Bank & Trust Co. Mortgage Lending & HMDA Data, 2008
In 2008, Apple Valley Bank & Trust Co. of Cheshire, CT reported 54 mortgage applications totaling $11.3 million, up 42% from 2007. The average application was for $209,370, and applicants reported an average income of $122,296. 80% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Hartford-West Hartford-East Hartford, CT (31), New Haven-Milford, CT (20) and Norwich-New London, CT (1) (applications in parentheses).
| Mortgage Company & Address | Apple Valley Bank & Trust Co. 286 Maple Avenue Cheshire, CT 06410 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 54 |
| Total Mortgage Loan Application Amount | $11,306,000 |
| Average Mortgage Loan Application Amount | $209,370 |
| Highest Mortgage Loan Application Amount | $625,000 |
| Average Applicant Income | $122,296 |
| Highest Applicant Income | $1,057,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Apple Valley Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Hartford, Connecticut | 30 | $ 5,011,000 | $ 167,033 | $ 76,000 |
| New Haven, Connecticut | 20 | $ 4,950,000 | $ 247,500 | $ 141,000 |
| Litchfield, Connecticut | 2 | $ 605,000 | $ 302,500 | $ 206,000 |
| Middlesex, Connecticut | 1 | $ 115,000 | $ 115,000 | $ 50,000 |
| New London, Connecticut | 1 | $ 625,000 | $ 625,000 | $ 1,057,000 |
Mortgage Loan Application Detail Totals for Apple Valley Bank & Trust Co. in 2008
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 27 | $5,954,000 | $220,000 | $625,000 | $160,000 | $1,057,000 |
| Home Purchase | 20 | $5,087,000 | $254,000 | $600,000 | $89,000 | $212,000 |
| Home Improvement | 7 | $265,000 | $37,000 | $105,000 | $72,000 | $178,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 50 | $10,553,000 | $211,000 | $625,000 | $132,000 | $1,057,000 |
| Not applicable | 4 | $753,000 | $188,000 | $210,000 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 54 | $11,306,000 | $209,000 | $625,000 | $122,000 | $1,057,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 43 | $8,710,000 | $202,000 | $625,000 | $120,000 | $1,057,000 |
| Application Withdrawn By Applicant | 5 | $1,835,000 | $367,000 | $600,000 | $173,000 | $319,000 |
| Application Approved But Not Accepted | 3 | $568,000 | $189,000 | $250,000 | $170,000 | $212,000 |
| Application Denied By Financial Institution | 3 | $193,000 | $64,000 | $128,000 | $27,000 | $35,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 1 | $128,000 | $128,000 | $128,000 | $35,000 | $35,000 |
| Debt-To-Income Ratio | 1 | $40,000 | $40,000 | $40,000 | $28,000 | $28,000 |
| Other | 1 | $25,000 | $25,000 | $25,000 | $20,000 | $20,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Apple Valley Bank & Trust Co.'s 2008 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Apple Valley Bank & Trust Co.'s mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Connecticut, download the full spreadsheet
with aggregated HMDA statistics today.
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